Small Twitter Account Triggers The XRP Army After Posting a Tweet About Ripple CTO Consistently Selling His XRP Stash

A small account of less than 200 followers ignited a debate on Crypto Twitter after posting their impressions of a series of XRP sales that David Schwartz, Ripple CTO, was doing over the past few days.

According to Hlnoooo, Mr. Schwartz’s sales are “the most bearish sign for XRP” and warned his followers about the potential negative repercussions of these operations, flagging as suspicious the fact that this whale is disposing of part of its funds.

Ripple CTO @JoelKatz recently selling his $XRP stack is the biggest warning sign one could ever get. This is the most bearish sign for $XRP I have ever witnessed since beginning of ’17.https://t.co/aHqeaLbxv8

I recommend everyone to get OUT NOW

— Hlnoooo (@hlnoooo) April 20, 2019

Hlnoooo acknowledges Schwartz is fully entitled to sell his private stash in whatever way he sees fit, however he explains that what really concenrs him is the evidence he is selling such a large amount just when XRP is at such a low price and many analysts agree that it is very possible that there will be a speedy recovery of the markets.

He sold his $XRP during the two pumps to $0.40 and $3.00 which is reasonable. Selling $XRP now, at the very bottom, very close before the next bull market, is not reasonable. So he probably knows something we don’t know.

— Hlnoooo (@hlnoooo) April 20, 2019

Schwartz himself responded by conceding that the sale of XRP is part of his de-risking strategy as most of his investments are in Ripple stocks and XRP. So while an increase in the price of XRP can cause immense profits, a fall could also generate more losses than he is willing to face.

This is still the case. Still sticking to the de-risking strategy my wife and I agreed to when we agreed to put our own money into cryptos. What helped me not to be so sad selling during the bull run was thinking how happy I’d be if I regretted my decision, but it still hurt. 1/2

— David Schwartz (@JoelKatz) April 21, 2019

This position is quite objective regardless of how involved Schwartz is with Ripple, and although this response was respected and by all, the situation escalated when the rest of the XRP Army “attacked” Hlooo for questioning David Schwartz’s intentions.

The results, according to information from Hlnoooo were shocking. He had more insults than his total number of followers.

It is simply not bearable. 589, insults, secret deals with the IMF, skewing facts. When @haydentiff stepped in it was like a huge troll army coming out of the dark. I respond to any serious answer. I’d be happy to discuss with her how xRapid will (not) move up prices. Right here.

— Hlnoooo (@hlnoooo) April 22, 2019

Some users debated healthily, arguing that nobody should not assume a priori that Schwartz was shorting XRP for some reason. Some explained that he was simply switching his tokens to fiat to perform traditional operations, others speculated that he might need the money to buy goods, that he wanted to invest it in Ripple shares or some other financial instrument. Another user argued that he could be moving his XRP to some Exchange.

However, another part of the XRP army criticized Hlnoooo calling him a coward, stupid, troll, fake, idiot and accusing him of spreading FUD and BS.

Come back with your real identity along with your financial statements so we can comb thru your life decisions & XRP holdings. What other people do with their crypto is none of your damn business. The only warning here is that cowardly, anonymous accts are worse than dead weight. pic.twitter.com/px2nXJKlub

— Tiffany Hayden (@haydentiff) April 22, 2019

Tribalism is a common phenomenon in CT, some cryptos suffer from this cancer more than others, but this is a toxic behavior that in most cases, when taken to the extreme, has generated terrible consequences for the whole ecosystem.

Perhaps the best thing is to take Jihan Wu’s advice to the BCH community and apply it to the entire crypto-verse, remembering precisely what happened to him when he was overly tribal about a coin:

BCH community needs to learn a hard lesson. Be friend with other competing coins, learn from them, and make BCH better. Don’t play hatred, don’t wish competing coins ill. Just wish and try to make BCH better.

I am a believer of the HODL philosophy because we are still in the nascent stage of blockchain technology. Although we are in a bear market now, my outlook on the adoption and growth of blockchain solutions remains unchanged. Blockchain transactions has been growing exponentially and demand for cryptocurrency like Bitcoin [BTC], Ethereum [ETH], Ripple [XRP], Litecoin [LTC] and other Altcoins will only continue to grow exponentially in the next five to ten years.

Related Articles

Another fresh survey has concluded that millennials and younger generations are continually gaining interest in Bitcoin (BTC) and cryptocurrencies while there is a growing distrust towards the post-2008 global financial structure. According to a new eToro survey of 1000 online traders, 43 percent of millennial online traders place more trust in cryptocurrency exchanges than the Read more…

China has been notoriously harsh on the development of cryptocurrency, imposing a ban on investing and trading into digital assets, including Bitcoin. However, the executive chairman for the Blockchain Research Institute believes that in 20 years, Chinese national fait currency will be replaced by a cryptocurrency version. Donald Tapscott, speaking in an interview with Bloomberg Read more…

Latest Litecoin News For a long time now, talk has been on proof of work consensus algorithms and their modus operandi. On one hand, the transaction confirmation protocol has been around since early 1990s only getting traction from early 2000s after Bitcoin roll out. On the other, the system is a hallmark of decentralization but Read more…